Keystone Investors PTE Ltd. Trims Position in StepStone Group LP (NASDAQ:STEP)

Keystone Investors PTE Ltd. lowered its stake in shares of StepStone Group LP (NASDAQ:STEP) by 62.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 214,478 shares of the company’s stock after selling 351,323 shares during the quarter. StepStone Group comprises about 0.9% of Keystone Investors PTE Ltd.’s holdings, making the stock its 24th largest position. Keystone Investors PTE Ltd. owned approximately 0.19% of StepStone Group worth $12,414,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STEP. Amundi lifted its holdings in shares of StepStone Group by 26.7% during the fourth quarter. Amundi now owns 730 shares of the company’s stock worth $42,000 after purchasing an additional 154 shares during the period. Mutual of America Capital Management LLC raised its position in StepStone Group by 1.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 9,578 shares of the company’s stock worth $554,000 after buying an additional 157 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of StepStone Group by 25.5% in the 4th quarter. Blue Trust Inc. now owns 1,079 shares of the company’s stock worth $61,000 after acquiring an additional 219 shares during the period. GAMMA Investing LLC boosted its holdings in shares of StepStone Group by 36.6% in the fourth quarter. GAMMA Investing LLC now owns 844 shares of the company’s stock valued at $49,000 after acquiring an additional 226 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of StepStone Group by 1.0% during the fourth quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company’s stock worth $1,771,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 55.54% of the company’s stock.

Insider Activity at StepStone Group

In related news, CEO Scott W. Hart sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $61.43, for a total transaction of $614,300.00. Following the completion of the transaction, the chief executive officer now owns 110,000 shares of the company’s stock, valued at approximately $6,757,300. This represents a 8.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Anthony Keathley sold 538 shares of StepStone Group stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $63.00, for a total transaction of $33,894.00. Following the completion of the transaction, the chief accounting officer now owns 1,386 shares in the company, valued at approximately $87,318. This trade represents a 27.96 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays raised their price objective on shares of StepStone Group from $66.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, February 7th. Oppenheimer lifted their price target on StepStone Group from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Evercore ISI increased their price objective on StepStone Group from $63.00 to $69.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $69.21.

StepStone Group Price Performance

NASDAQ STEP opened at $56.54 on Tuesday. The business has a 50 day moving average price of $59.37 and a 200 day moving average price of $60.02. The company has a market capitalization of $6.56 billion, a P/E ratio of -33.46 and a beta of 1.33. StepStone Group LP has a 1-year low of $33.90 and a 1-year high of $70.38.

StepStone Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, February 28th. StepStone Group’s dividend payout ratio (DPR) is presently -56.80%.

StepStone Group Profile

StepStone Group Inc is a private equity and venture capital firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in private debt, venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, buyout investments in mature and middle market companies.